Family entertainment company ZAG is joining Chris Columbus’ 1492 Pictures and Ocean Blue Entertainment to finance and produce the live-action/hybrid Christmas pic 12/24. Matt Lieberman penned the script based on an original idea by David Guggenheim. 1492 and Ocean Blue pre-emptively purchased the spec by Lieberman (Mr Toad’s Wild Ride) in June 2013.

The logline: When some old home video is discovered, two brothers set out to prove Santa Claus is real, setting an elaborate trap on Christmas Eve. Santa ends up incapacitated by their trap and with the help of Santa’s magical elves, the brothers end up on an epic adventure to save Christmas.

ZAG Animation Studios is a partnership with 1492’s Columbus and Michael Barnathan; Columbus, Barnathan and Mark Radcliffe are producing for 1492 with Guggenheim. Jeremy Zag’s company develops TV series, movies and games, most recently the animated feature Miraculous Ladybug which will premiere next week on Nickelodeon.

1492 and Ocean Blue have a long-term producing and financing deal. The first film under their tie-up is Focus Features’ The Young Messiah, about 7-year-old Jesus discovering his true identity and destiny. Cyrus Nowrasteh directed and it has a March 11 release date. Next up will be I Kill Giants and The Battle Of New Orleans.